IBM: Fiscal 1Q11 Financial Results

For three months ended March 31, 2011, IBM Corp. stated that storage hardware revenues increase 10% year-over-year (14% at constant currency) from the first quarter of 2010, driven by disk, which was up 13%. XIV and Storwize V7000 are currently its most successful products.

10% is not a big growth compared to 18% for EMC for the same period in storage hardware, or 31% globally for NetApp and 14% for HP storage products for their quarter ending in January 2011.

Big Blue didn’t reveal the exact figure of its storage activity but we did the calculation. It published that storage represents 19% of total Systems and Technology segment being at $4 billion. This means around $760 million for the quarter.

The company added that Tivoli Storage grew 20% driven by over 60% growth in software for XIV.